OTCQX:DMMIF - Post by User
Comment by
paljoeyon Jan 15, 2009 9:11am
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Post# 15705891
RE: From Ecuador mining news
RE: From Ecuador mining newsThe uncertainty is finally over and the regs are not all that different than in Peru or Mexico.
Royalty is 5 %, and the income tax rate is 25 % while the law is no longer organic.
The WFT is no longer really applicable , so very little extraordinary left to worry about.
Oil is moving downwards to perphaps $20, labor costs will soon plummet due to excess supply, which should drive cash costs downward from the earlier estimate of $185 per oz.
The early development of jersalem now looks better and better, as Correa needs the jobs.
Gold is starting to move upward as well.